Guarantees

A guarantee by a bank is a written undertaking in which the Bank agrees to make stipulated payments on your behalf should you fail to fulfil or carry out specified terms of a contract.

What do I need to apply?

Request to issue Guarantee Form

Resolution

Copy of Contract

Who can apply

Available to Stanbic Bank customer’s with Transactional Account

What does it offer me?

Guarantees may be continuing or for a specified period .Whenever possible a definite or determined expiry date or a clause specifying a period of notice or withdrawal is to be included in the Guarantee.

The party in whose favour the Guarantee is issued is entitled to specify the wording of the document.

Any demands for payments under a Guarantee are to be made in writing.

A Guarantee enables you to bid for contracts which call for Guarantees and to buy fixed property where a Guarantee is usually a pre-requisite.